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No. of Recommendations: 0
I was looking at the most recent special and the ending date is Nov 16. Is this correct? The company posted is PAYX, but I check the specials frequently and don't remember seeing it until after Nov 16. Also, the page is says to click on to make the purchase is down.
So,
1. Is the current special PAYX?
2. What is the last date to take advantage of it?
3. If the page to place an order is down, how to I place an order?


Thank you

David
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No. of Recommendations: 2
David,

If the page to place an order is down, how to I place an order?

These specials are available only through an online order, so while the page is down, they don't exist. As to Paychex, I don't believe it was seen during most of November, so I think it's going to be offered until some date in December...once the system is able to accept orders.

dave fish/moneypaper
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No. of Recommendations: 1
A representative at Directinvesting.com told me I could order the stocks via snail mail (she sent me an order form with a place for me to circle fees of $15/$20/$30 as it applied to the order) or over the phone at: (914) 925-0022. (Temper of the Times) So you might call them and ask about the specials.

Just as a side note, while I've heard good things about directinvesting.com and moneypaper, I'm not sure I'll deal with them again. I sent my money mid-October for stocks that were supposed to be ordered the "first week of Novemeber." Shortly after that, the website went down. They've had my money for six weeks and I've yet to receive written confirmation that my stocks were purchased. I phoned and was told the stocks were purchased Nov. 12 and that my confirmation would be sent in two days. Still nothing.

I'm hoping that my case was just a fluke. As I've said, I'd heard good things about them in the past, even TMF has ordered stocks through them.

Melissa
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No. of Recommendations: 2
Well Duh! <slaps her forehead>

I feel like such a ninny. I completely forgot about buying my PAYX shares directly from PAYX's plan administrator, with no fees! I purchased the shares on Nov. 2 and immediately received an investment statement. Here is where you can purchase your PAYX:
www.investpower.com.
You can also reach them by phone at 1-800-278-4353.

Many DRIP programs can be purchased quickly and easily through the company's plan administrator, without additional fees. Check the website of the company you wish to purchase, then click on their investor relations link. The only down side is that you usually have to purchase $250 or $300 worth of stock right of up front. Paychex was $250.

Here is where I purchased my EXXON-MOBIL stock. They also have many other companys to choose from. I wish I heard about these guys four weeks earlier:
www.equiserve.com

Melissa

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No. of Recommendations: 1
Mr. Fish,

Thank you for the info.

David
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No. of Recommendations: 2
Melissa...

Here is where I purchased my EXXON-MOBIL stock. They also have many other companys to choose from. I wish I heard about these guys four weeks earlier:

www.equiserve.com


I purchased my first DRIP from Equiserve (Home Depot). They are the Transfer Agent for a large number of companies. They will load you up with paper - a "Statement of Holdings" is sent at the end of every month and after every OCP.(A good thing, I think). I also like the ability to utilize their online site to track my purchases.

What I don't like is the length of time it takes between putting the check in the mail and the purchase finally showing up on their site. It takes at least two, and sometimes three, weeks for them to record purchases. However, I guess that's why I dollar-cost-average. (As long as you are in a regular investment cycle, when they purchase your shares isn't technically suppose to matter too much). I guess I just get too impatient.

Anyway, for those of you considering this agent for future DRIPs, I would recommend them. ($2.50 per OCP).

Best regards,

Bill


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No. of Recommendations: 1
once the system is able to accept orders.

I am curious about the not very expeditious efforts to get the web site working properly. Why do you folks not seem to care very much about this?


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No. of Recommendations: 1
azriel...

I was considering using the Moneypaper Site to start another DRIP so that I wouldn't have to come up with the $$$$ to begin. However, I have been discouraged, as you seem to be, with the inability of the company to get it's web site up and functioning again. It seems like a direct reflection on the company's ability to perform on a professional level.

I'm sure that many people, who have had a good business relationship with Moneypaper, would disagree. But, you have to admit, no matter what your viewpoint or financial interest, it doesn't look good!!

Hopefully, they will get their act together soon because they did perform a valuable service to investers interested in DRIPs!

Best regards,

Bill

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No. of Recommendations: 18
Bill, Azriel, et al.
The following is not directed to any one person, so please do not take it personally. There has been several posts complaining about the MoneyPaper's web site being so screwed up lately and the percieved lack of service of this company that I felt like I had to say something. I have no relationship with TOT or the MoneyPaper. I wrote this, then walked away to come back later and read it before I sent it, just to make sure I wanted to, and I do so here it is:


Caution, rant, rant, rant...




I have been discouraged, as you seem to be, with the inability of the company to get it's web site up and functioning again. It seems like a direct reflection on the company's ability to perform on a professional level.

I am sorry, but I am tired of reading these types of complaints. Since the web site has been down, I have purchased 3 or 4 DRIPs by phone and snail mail with absolutely no problems! My purchases have been made on time and my refund checks and confirmations have been sent to me in a VERY timely manner, no different than when the web site was fully functional. So to call their professionalism into question I think is unfounded. All companies with an internet site can and probably will have some issues. I think it is commendable that the Moneypaper continues to do their business and do it well inspite of their web-site problems. I know there is a lost convienence factor without being able to buy on line, but it is still very possible.


no matter what your viewpoint or financial interest, it doesn't look good!!....Hopefully, they will get their act together soon because they did perform a valuable service to investers interested in DRIPs!

I don't really follow this line of thought. Again, I would like to say any on-line company will have problems of some sort in time, but these folks are not soley dependent on their on-line services to still provide a valuable service to Drippers. You can still place orders, just call them and ask!
I have purchased around 25 companies with these folks, some on-line, some through snail mail (some for me, others for friends and family). The process usually takes around 2 months to complete. I have never had any problems with their services.
I don't mind waiting 2 months because I am a LONG TERM DRIPPER, which means the price I pay for 1 share today, or 2 months from now won't matter as much as how much I paid on average over the next 20 to 35 years.

I hope this hurt no one's feelings, but I felt it had to be said.

David
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No. of Recommendations: 5
Dave,

I agree with you.

There seems to be two issues here: notification & the website.

Melissa seemed upset that despite having her order completed she hadn't received "official notification" by snail mail.

Melissa, no disrespect here, but how much service do you expect for $10,$15, $20 or $30? I have puchased at least 10 times with MP and 10 times the notification was slow and 10 times the order went through without difficulty. Also remember you've been notified that your order was placed on Nov. 12th. Any further delays are the fault of the Co. transfer agent and not the fault of MoneyPaper. MoneyPaper technically finished their involvement, other than eventually giving you paper notice that the order was placed, on Nov. 12th. Blame any future delays on the Co.

On an aside, yes many Cos. can be purchased directly but the vast majority of those Cos. have fees. Exxon is an exception. MoneyPaper and others are best suited to low or no fee plans or to avoid high minimums with direct purchase plans.

As to the web site:

I do have some concerns there. I think it would be good if a representative of MP/TOT with knowledge of this particular situation could provide members of these boards with an explanation of what the problem is. The problem has persisted for what appears to be too long. Perhaps Dave Fish could alert somebody at MP about this situation.

Disclosure: I have no relationship with MP/TOT beyond being an occassional client of their services.

OB

Private to Dave: You guys were lucky. Well at least it was Thorton.
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No. of Recommendations: 1
Bob,
I'm sure you are right about the Moneypaper and Directinvesting.com. But you'll have to understand how I felt before stubling onto the TMF Web site a couple weeks ago.

You see, I went searching for a way to invest in DRIPs, came across Dripinvestment.com. I found a few stocks I wanted to own and authorized them to deduct $1,200 without any thought as to the company's legitimacy. (STUPID on my part!) Next thing I know, money is drawn from my account, their Web site is shut down and I was left wondering if I was a victim of internet fraud.

I felt much better when I stumbled onto TMF and learned the company was indeed legit. And now, I feel even better knowing that it's common for them to take up to two months to process my DRIP. But, I have to wonder how many new customers aren't as fortunate to have you guys to console them and assure them the deal with go through.


Melissa
P.S. No disrespect was taken. I too believe the $15-30 fee is well worth it for those companies that don't have a direct purchase plan or people unable to scrape up the initial $250-500 investment.

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No. of Recommendations: 2
I would like to add that I have used the Moneypaper in the past for several purchases, to start my DRIP in INTC, WAG, SLE and PEP. All were slow but were done correctly. They sent the notification to the companies and established the DRIP accounts for me. Even though they were slow, I would certainly recommend them. Accuracy means a lot, and I have noticed that there are other agents who cause many errors when trying to establish DRIPs.

Happy DRIPping.

Kathy
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No. of Recommendations: 1
PoorMelissa,

Please don't think that you only have "2" months to wait until you receive documentation that you are in the drip programs. I had money automatically withdrawn from my account at the end of August (this year) and Moneypaper purchased my stock the first week of September. I have not received any documentation that I am in the program yet. As much as the company "Moneypaper" gets pumped up around here, I still wonder if I'll ever get those documents. I think a fair assumption would be that you wont receive anything for another 3-4 months.

Moneypaper says "Enrollment usually takes 4 to 6 weeks from the closing date for orders that month." on their website.
(http://208.211.164.187/moneypaper/enrollment/morebenefit.cfm)
Unfortunately this is statement is NOT true. The truth is that it takes much more time than that to achieve enrollent. Moneypaper should change these numbers so their customers do not become upset with their service. People like the truth. If Moneypaper were a little more upfront about how long it actually takes I think their customers would be less likely to go on a very popular discussion board and complain about their services. But hey, who cares about the customer. I don't care how much people pump up Moneypaper on here, it doesn't make your documents come any faster. I bet the same people that are pumping the company up now were complaining about it when they first started using them.

I think this slowness problem could be solved if these companies would all offer direct stock purchase programs. It is kind of ridiculous that they make us go so far out of the way just to "GIVE" them our hard earned money. I can't see how a company can justify requiring a person to own one share of the company stock to enroll in their drip program. The only thing I can think of as to why these companies do not offer direct stock programs is due to laziness. I can't see how us owning one share before enrolling in their programs makes their life any easier. And it sure the heck isn't making our life any easier.

I hope I gave you a little bit more comfort as to what to expect with your new purchases. It is definately a long and grueling wait.

Disclosure: I have no relationship with MP/TOT beyond being a recent first time client of their services.

P.S. I hope I get my enrollment conformations before you do *wink*
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No. of Recommendations: 1
The people at Moneypaper do not perceive time the same way the rest of us do. There seems to be a 20 to 1 or 30 to 1 ratio of difference (based on how often they execute stock purchase orders). Maybe they are from a different dimension. So what seems like a two-month web site outage to us, only seems like a two-day outage to them.



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Hey, quit your complaining. The moneypaper cult will not be very happy to read those types of posts. Don't you know what they can do to you? You must CONFORM now....
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BT2,

you wont receive anything for another 3-4 months.

Ever the optimist! LOL

OB
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No. of Recommendations: 1
While Moneypaper can be slow at times, the processing speed also depends on other variables. Back in August, I ordered stock from 5 different companies at the same time. Since that time, I've started on DRIPS with three of the companies (KO, CIN and PEP), but am still waiting on information from ABT and JNJ. What is interesting is that KO, ABT and JNJ all use Equiserve, and KO was the the first company I heard from; however, ABT and JNJ are still no-shows...

Mardee
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No. of Recommendations: 8
Big Tymer,
The moneypaper cult will not be very happy
No one is telling anyone on here that they must use the moneypaper to buy their drips. They just happen to be the easiest way and one of the cheapest ways out there to buy your first share.
I have used them and think they offer a valuable service. You don't like it? then don't use it. Simple as that.
Ginny
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No. of Recommendations: 0
I would like to put my word in this stock fight. I have used moneypaper to purchase numerous shares. I have had no problems using them when they were online. I purchased INTC through them in August and got the information around october,which I was expecting. I've also purchased LTD for my mother and sister but they have yet to receive anything. The only thing I dislike about the service is the web page. I recently subscribed to moneypaper (starting to wish I hadn't) and have only received one copy. Let's just all hope things go better, so that we can actually enjoy dripping instead of ranting or raving about their service.
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No. of Recommendations: 5
Mardee1000 wrote: "Since that time, I've started on DRIPS with three of the companies (KO, CIN and PEP), but am still waiting on information from ABT and JNJ."

I also signed up for JNJ through Moneypaper. When a few months had gone by and I had not received any notification, I called Equiserve. The representative on the phone was very polite and helpful, and immediately sent out my statement (along with a familiar yellow envelope!) Best example of customer service? Probably not. Just another example of how it is up to me to take care of my own business? Absolutely.
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No. of Recommendations: 5
David,
Excellent post!

I would like to add that sometimes when a website goes down it is not the fault of the site owner. There are way too many other variables etc that need to be considered instead of complaining that a company is not professional etc since its site is down for a period of time whether it is an hour, day or week. The bottom line is that we live in an era of emerging technology where we must rely upon others for success of that technology..... and we tend to forget that fact.

Jenn
(tired of complaints over non-working sites)
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No. of Recommendations: 0
<<Mardee1000 wrote: "Since that time, I've started on DRIPS with three of the companies (KO, CIN and PEP), but am still waiting on information from ABT and JNJ.">>
---------------
I also signed up for JNJ through Moneypaper. When a few months had gone by and I had not received any notification, I called Equiserve. The representative on the phone was very polite and helpful, and immediately sent out my statement (along with a familiar yellow envelope!) Best example of customer service? Probably not. Just another example of how it is up to me to take care of my own business? Absolutely.


You're right, of course, Jen. And I should know better than to sit by and do nothing, since I have the same problem with the college I'm going to. I learned a long time ago that my advisor did not have the same stake in my education that I do, and so it behooved me to look out for myself.

I'll call Equiserve tomorrow... :-)

Mardee
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No. of Recommendations: 3
David...

I hope this hurt no one's feelings

I, for one, appreciate your willingness to comment (in general) or disagree with me or anyone else, for that matter. That, in my opinion, is what these boards are for. If we all agreed on everything, it would be a pretty dull world.

Putting our views on this board almost guarantees that someone will disagree at some point in time. Some offer constructive criticism whereas others may get a little destructive. Anyway, no offense taken!

Best regards,

Bill
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No. of Recommendations: 0
"Big Tymer,
The moneypaper cult will not be very happy
No one is telling anyone on here that they must use the moneypaper to buy their drips. They just happen to be the easiest way and one of the cheapest ways out there to buy your first share.
I have used them and think they offer a valuable service. You don't like it? then don't use it. Simple as that.
Ginny"


Don't use them? Are you trying to tell me what to do again? I wish I could get that many recommendations for telling people what to do. Just kidding :-) Actually I have used them twice so far. I have not received enrollment forms for either company but both stocks were purchased rather recently. I'm assuming 3 months is recent. But anyhow I still trust things are going the way that they are supposed to be. I plan on purchasing another company as well through the "Moneypaper" soon. The point of my earlier message was to point out that the moneypaper takes longer to enroll people in drips than what they say on their website. I never said not to use them or that I never would.
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No. of Recommendations: 3
Displease with MoneyPaper

Here are other options:

www.sharebuilder.com:

Pro:

Dividends are reinvested (IMO that is overstated because you can reinvest your dividends yourself once you have to have enough cash to keep the commissions reasonable to your investment)

Con:

Limited trading window - once a week

Higher cost- $4 per trade unless you buy a lot of stock each month for the $12 a month All you can Build option.


www.brokerageamerica.com (need a $1,000 to open an account)

Pro:

Free trades but you have to buy 100 shares each time (starting Dec. 1)
I started buying stocks by buying 100 shares at a time and still do. What is wrong is saving up to buy 100 shares anyway? Oh you might miss the big run up in price. BIG DEAL There are probably other stocks trading at reasonable prices especially now.

Con:

$5 charge for buying less than 100 shares


www.financialcafe.com

Pro:

low commissions - $2.99 a trade for any number of shares. Bonus if you have over $20,000 then you qualify for free trades.

Con:

Inactivity fee - $5 You need to make a trade a quarter to avoid it or have $20,000 in your account


DRIP plans

Pro:

Dividend reinvestment

Some charge no fees


Con:

Limitations for making transactions - You have to follow the plan schedule for investments.


I did not consider www.buyandhold.com because of their $6.99 a month inactivity fee.

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No. of Recommendations: 6
azriel,

I am curious about the not very expeditious efforts to get the web site working properly. Why do you folks not seem to care very much about this?

I assure you that we do care about this, and you seem to be making an assumption that efforts are not being made.

The fact is that The Moneypaper is a newsletter publishing company and Temper is a qualified broker, but, as you can imagine, I'm sure, neither writers nor brokers necessarily have expertise in web site operation, so we have to rely on the people we can afford to hire for that purpose, who have had to recover from a web-hosting service that "pulled the rug out" from under us. Naturally, if revenues were many times what they are, we'd be able to spend a great deal to get up and running quickly. But, if you think about it...our revenues are limited to one-time enrollment fees and newsletter subscribers, and the razor-thin margins available in both endevours.

Please be patient; we are trying our best.

dave fish/moneypaper
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No. of Recommendations: 1
OB,

Thanks for the support. (Same to others out there!)

Perhaps Dave Fish could alert somebody at MP about this situation.

I think the situation is being addressed as a top priority. Unfortunately, I'm in the unenviable position of only being able to pass on what I'm told...which is essentially that. Even if I were able to "look over someone's shoulder," I wouldn't know what else to say.

People should keep in mind that they can still order through our traditional mail orders and contact us by phone. Obviously, though, most of us have become used to the instant gratification of online ordering, which is more the milieu of trading than investing.

dave fish/moneypaper
P.S. Yes, we were lucky, but the B's won even though they're in a scoring slump, so what does that say about the Canucks? :)
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No. of Recommendations: 2
BigTymer2,

The truth is that it takes much more time than that to achieve enrollent.
Please don't confuse "enrollment" with notification. For example, a person could become enrolled within a few weeks, but some transfer agents then see no reason to send out notification until the next transaction date, which may be the date of the next dividend payment. Many have noticed this with Computershare, which administers Intel and many other companies. So, for example, we could make a purchase of Intel in early October, tell them to trasnfer the share into a new account for you, and it could be done during October, but they will send nothing until the Dec. 1 dividend reinvestment date, and that statement may not be printed, sent, and received until Dec. 10-15. In that case, you are enrolled in less than 4 weeks, but THEY don't reveal it until 3 months (or more) have passed...and, of course, we get blamed.

dave fish/moneypaper
P.S. I know the natural question is, "Why can't MP keep calling them and then let us know?" The answer, of course, is that we could do so by hiring more people and that would mean higher fees.
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No. of Recommendations: 5
BigTymer2,

I think this slowness problem could be solved if these companies would all offer direct stock purchase programs. It is kind of ridiculous that they make us go so far out of the way just to "GIVE" them our hard earned money. I can't see how a company can justify requiring a person to own one share of the company stock to enroll in their drip program. The only thing I can think of as to why these companies do not offer direct stock programs is due to laziness.

DRIPs were born a few decades ago as a way for companies to help their shareholders increase their stake in the company. If you aren't a shareholder, then you don't fall in this group...so it's not that they are requiring anything; they simply created these programs for shareholders.

Direct-enrollment plans weren't created until about a decade ago, and the transfer agents have promoted them (with lots of fees) as a money-making vehicle. Someone has to pay...you or the company, if not both. So, far from "giving" your money to the company, they are (in the case of a no-fee plan) paying your way.

Also, early on, shares purchased were from treasury stock, so the investment funds did, indeed, go into the company coffers. Nowadays, most plans purchase shares on the open market for your benefit, so the company itself receives nothing.

You're also not "giving" anyone money since you are receiving stock in exchange for cash...and if you are fortunate enough to do so at little or no cost, then, count your blessings...:)

dave fish/moneypaper
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No. of Recommendations: 1
Dave,

P.S. Yes, we were lucky, but the B's won even though they're in a scoring slump, so what does that say about the Canucks? :)

Well we whooped Pittsburg just before playing the Bruins and we whooped Philadelphia tonight right after. So I'd guess it says we should only play teams beginning with "P"! Bring on Phoenix!

OB

Thanks for the explanation. At least people will have a better explanation of the difficulties. I had speculated about the server going down but I only knew about that because another site I frequent was also affected and they managed to alert everybidy through other sources.
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No. of Recommendations: 0
OB,

Bring on Phoenix!
I wish the Bruins could choose who to play, but I doubt that it would do much good. They always seem to play at the level of their opponents, so it's frustrating when they beat teams like the Devils and then lose to the Blue Jackets! They're a Jekyll-and-Hyde team for sure.

d.
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Mardee

Will you post your results to the board as I am sure that you will be pleasantly surprised to learn that you are enrolled. My opinion could be wrong.There are exceptions to most everything but I have found TOT to be adequate in their part. We all must remember that there are more hands in the pot then TOT. I have only been a satisfied costumer.

Walter
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No. of Recommendations: 3
Just as a follow up . . .
I wanted to let everyone know that I received my notification from Moneypaper. They sent me a form listing my drip purchases and a refund check for the overpayment. The total time involved was about 5-6 weeks.

From this point, I believe it's up to the transfer agents to notify me of my enrollment status. If I don't hear anything by the end of the year, I'll give each of them a call. (thanks so much to the person who posted that advice!)

I'm looking forward to my new and hopefully fruitful journey as an investor.

Melissa

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No. of Recommendations: 4
Melissa,

Do you have access to:

The Motley Fool's "Investing Without a Silver Spoon"

or

MoneyPaper's "Guide to Direct Investment Plans"?

If you do they list each Co.s Transfer Agent and the 1-800#s. If you're anxious to get going you can call each Co. to get your account number and start mailing in OCPs.

Note: If you do call it's not unusual for the TA to not have you registered. Sometimes it takes a week or so after MP purchases for you to officially appear on the Cos. books. So just wait a week and call back. I had this situation when I started INTEL. Also INTEL, despite purchasing monthly, I believe waits until after the next dividend date to notify you of registration. In a worst case scenario that would mean 3 months before you receive notice.

If you don't have access tell us your Cos. and we can give you the 1-800#s.

OB
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No. of Recommendations: 0
Thanks OB,
I don't have copies of either book. Is one or both a "must have" for the new investor?

My companies are:
ABT, EGN, GIS, PAYX, PFE, SGP, TSN and XOM

Thanks again,
Melissa



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